th European Pension Funds Congress Introducing an overview of accumulated pension entitlements will help increase the mobility of European citizens 1

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1 8 th th European Pension Funds Congress Frankfurt 19th of November 2013 Titus Sips (APG) Introducing an overview of accumulated pension entitlements will help increase the mobility of European citizens 1 More and more European employees are mobile in the international labour market. A risk they run is that their pension accumulation is scattered over various countries and that -as a result -they lose information on their pension rights. In several European countries a tracking system for pension rights is present. However, there is no system that works for all of Europe. Such a tracking system should give them an overview of the pension entitlements they have accrued in the European countries and show them who to contact in case they have any questions. The pension tracking system can also provide a solution for Member States where no tracking system is available yet. 1. On basis of the EC White paper An agenda for adequate, safe and sustainable pensions(feb. 2012) 1

2 As a first step, the EC has initiated a project to support the development of a tracking service for private pension entitlements Call for proposal was in August Awarded to the consortium of PGGM, MN Services, APG, Syntrus Achmea, ETK, PKA in May Netherlands Denmark Finland The goal of the project is to: Make a high level design and give recommendations for the development of a pan European pension tracking service. Focus on feasible solutions. The project started June 1 st, 2013 and ends on March 1 st The project will address several subjects It will make recommendations on: Architecture and functionality of the solution; Security of the solution; Identification and authentication; Information value and standardization of information; Alignment with different levels of automation and digitization of pension administrations; Ambition levels of the tracking service; Enablers and disablers in legislation for the European tracking service both on national and European level. The project result will be delivered as a report to the EC and presented to interested parties at several events. 2

3 We expect the solution to have multiple levels of functionality As a result of the research we expect to find differences in e.g.: Internet usage and availability; The degree of automation of pension administrations; The extent to which there are enablers and disablers in pension and privacy legislation for the establishment of a tracing and tracking service; The organization of the national pension sectors and the ability and willingness to set up such a service. So we expect that: We need to design a modular tracking service, which allows for different levels of functionality; The establishment of a European tracing and tracking service will be a process rather than a (single) project. The project will make use of external expertise and existing initiatives to help define the contours of the solution Aspects of our approach are: Global analysis of the existing pension communication methods and tracking services in Europe, and the experiences with these methods; Making use of existing ideas and initiatives for tracking services through contacts from the EC and from pension organizations like Pensions Europe, EAPSPI, ESIP, AEIP; Detailed research on a select number of existing tracking services to gather best practices and experiences; Involving external experts in finding solutions; Organizing events and exchange of ideas to discuss results. 3

4 The projects will contact experts from within the European countries to gather information and discuss subjects Getting information: Through a EU wide survey; Through meetings with external experts where the project can discuss its findings; Through interviews with organizations and experts; By asking organizations that have expertise in specific domains to give their view on solutions. E.g. ICT-providers. Last but not least By being visible as a project and by making sure that people and organizations that have expertise in this field and want to contribute, can find us. The first step is the survey The goal of the survey is to collect information about the way different organizations communicate pension rights. This is done to create a general view on how different organizations in Europe handle this. The survey is sent to major European Pension and Social Security Organizations. Another version of the survey is sent to governmental bodies and to pension sector interests groups The survey is conducted as an internet questionnaire, and will only take 15 minutes of your time. So, if you haven t already filled it in send an to ttype@mn.nl. We will be happy to send you the link. And of course we will return with the results. 4

5 The survey globally investigates several pension communication aspects Such as: What channels are used for pension communications; The use of digital communication; Identification of users; The cooperation with tracking or communication services; Legal restrictions with respect to the exchange of information; Finding participants and/or beneficiaries; Initiatives for tracking services. Questions & Remarks 5